Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity during the three months ended March 31, 2022:

				Weighted-
	Number of			Average
	Shares			Exercise Price
Outstanding at December 31, 2021		7,642,690		$	12.98
Exercised		(697,998	)		9.73
Canceled/Forfeited		(79,940	)		21.08
Outstanding at March 31, 2022		6,864,752			13.22
Exercisable at March 31, 2022		5,715,153		$	11.78

Summary of Activity in Connection with RSUs

The following table summarizes the RSU activity during the three months ended March 31, 2022:

				Weighted-
	Number of			Average Grant
	Shares			Date Fair Value
Outstanding at December 31, 2021		6,622,684		$	59.72
Granted		2,925,705			59.02
Vested		(706,663	)		47.21
Canceled/Forfeited		(216,734	)		55.89
Outstanding at March 31, 2022		8,624,992		$	60.60

Schedule of Estimate Fair Value on Date of Grant

We estimate the fair value of the ESPP purchase rights on the date of grant using the Black-Scholes option pricing model with the following assumptions during the three months ended March 31, 2022.

Risk-free interest rate	0.03% to 0.05%
Expected term (in years)	0.5 to 1.5
Estimated dividend yield	0.00%
Estimated weighted-average volatility	63.42% to 69.39%

Summary of Total Stock-based Compensation Cost from Stock Options, RSUs, ESPP, RSAs, and Sales of Stock

The Company recorded total stock-based compensation cost from stock options, RSUs, ESPP, RSAs, and sales of stock by employees in excess of fair value as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Cost of revenue	$	1,458	$	1,161
Sales and marketing		10,296		3,252
Research and development		13,008		3,246
General and administrative		12,447		2,644
Total stock-based compensation expense	$	37,209	$	10,303
Stock-based compensation capitalized for software development		2,166		83
Total stock-based compensation cost	$	39,375	$	10,386